Lake Norman’s real estate market continued its dramatic downturn in November with a 26% drop in home sales compared to last year and a 31% drop from last month’s. While this was the 4th best November since 2005 this certainly isn’t enough to restore our confidence. No matter what factors have contributed to our weakening housing market, we have been battered with three months and there is nothing to suggest this will change in the next few months given our low pending sales and new contracts’ numbers compared to last year. My numbers below should provide some deeper insight.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

Our Lake Norman home sales were down for the third consecutive month and our year-to-date sales are down -3.6% compared to 2017.

Our inventory of active listings remains historically low, (13 fewer than last year), as they have been all year, never reaching our normal summer highs. It is hard to quantify but there is no doubt that the low inventory does have a negative impact on our Lake Norman’s home sales.

Our pending sales and our newest contracts (UCS) are down which indicates a continuation of the slowdown for the rest of 2018.

Today I am launching a new feature on my Lake Norman Real Estate site. I now have a real-time automatically updated graph of the number of active listings and homes sold in all of Lake Norman by month for the past three years. These easy to read graphs provide simple but great insight into today’s trends in an historical context. To get the latest number just click on Lake Norman Market Trends. .

Here are this month’s graphs:

*Note that the sales numbers aren’t updated until the 20th of each month.

Above is the graph of single family homes sold in Lake Norman for the past 6 months. You can clearly see our record-breaking months from May – August and then our nose dive in September with a slight uptick in October. I just discussed this in detail in the Lake Norman Real Estate Market Report October 2018.

Above is the active listing graph. As you can see our inventory of active listings was significantly lower from June – September compared to prior years and even this month we are below 2016 and 2017.

As predicted, Lake Norman’s real estate numbers for October continued their downturn for a second month in a row. We logged in a total of 150 home sales, a 14% drop when compared to last October but a 13.6% increase over last month’s. So, while disappointing, not nearly as severe a decline as we experienced in September. And, this was the 4th best October in since 2005. Was Hurricane Florence a factor? No matter what factors have contributed to our weakening housing market, there is clearly a downward trend that will continue through the end of this year. Our low pending sales and new contracts’ numbers compared to last year are both down which substantiates this trend. My numbers below should provide some insight.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

Our Lake Norman home sales were down for the second consecutive month and our year-to-date sales are down -2.6% compared to 2017.

Our inventory of active listings remains historically low, (44 fewer than last year), as they have been all year, never reaching our normal summer highs. It is hard to quantify but there is no doubt that the low inventory does have a negative impact on our Lake Norman’s home sales.

Our pending sales and our newest contracts (UCS) are down which indicates a continuation of this slowdown for the rest of 2018.

Our 3rd Quarter 2018 price range analysis is fascinating because it reveals strengths and weakness not by groupings like luxury homes, trade-up or first-time buyer as is normally the case but rather by price ranges within these groupings. If you compare this chart to the second chart below for the same quarter in 2017 you will see further evidence of these rather quirky numbers.

Why do I create a price-range analysis every quarter for my readers and clients? Because if you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global, national, and Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. And, if you considering a broader range of prices, this chart can help you develop of more effective strategy by narrowing your search based upon actual strengths and weaknesses within our Lake Norman price ranges.

Lake Norman’s 3rd Quarter 2018 Home Sales By Price Range

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

Lake Norman’s real estate numbers for September took a rather dramatic downturn. We logged in a total of 132 home sales (100 less than last month!), a whopping 35% drop when compared to last September and a 43% drop from last month’s. And, this was the worst September since 2013. Yikes! Was Hurricane Florence a factor? After four very strong months our Lake Norman housing market’s September numbers are honestly a bit frightening. Our low pending sales numbers from last month did indicate a slowdown but not to this degree. The million dollar question is where we are headed for the rest of 2018? My numbers below should provide some insight.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

September’s single family home sales were 35% below last September’s and 43% below last month’s which brought our annual year-to-date sales to -1.5% compared to 2017.

Our inventory of active listings remains alarmingly low numbers (a whopping 88 fewer than last year!) after never reaching our normal summer highs and yet we are still recording high sales. It is hard to quantify but there is no doubt that the low inventory does have a negative impact on our Lake Norman’s home sales.

Our pending sales jumped back up however our newest contracts (UCS) are down which indicates a continuation of this slowdown for the rest of 2018.

Lake Norman’s real estate sales numbers for August were exceptional. We logged in a total of 232 home sales which beats last August’s 211 by 10% and they were 18.4% above last month’s. After some ups and downs at the beginning of the year, the past four months have helped us to record 39 more sales in the first 8 months of this year compared to 2017’s record breaking year which is truly impressive and, quite honestly, unexpected by early national real estate projections. The million dollar question is can we sustain this level for the rest of 2018? My numbers below will provide some insight into where we are headed for the next few months.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

August’s closed sales were strong: 10% higher than last August’s, 18.4% greater than last month’s, the second highest month this entire year and the best August in Lake Norman’s history!

Our inventory of active listings continues to drop to alarmingly low numbers (a whopping 146 fewer than last year!) after never reaching our normal summer highs and yet we are still recording high sales. It is hard to quantify but there is no doubt that the low inventory does have a negative impact on our Lake Norman’s home sales.

We are seeing some weaker pending sales which may be an indication of a slowdown at least for the next few months.

Lake Norman’s real estate sales numbers for July exceeded my expectations slightly by logging in a total of 191 home sales which beats last June’s 187 by 2%. However, our July sales were 23% below last month’s. After some ups and downs at the beginning of the year, the past three months have helped us to record 12 more sales in the first 7 months of this year compared to 2017’s record breaking year which is truly impressive and, quite honestly, unexpected by early national real estate projections. The million dollar question is can we sustain this level for the rest of 2018? My numbers below will provide some insight into where we are headed for the next few months.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

July’s strong numbers were able to lift our total sales for the past 7 month’s of 2018 above our record-breaking 2017 numbers.

Our inventory of active listings continues to drop to alarmingly low numbers (a whopping 136 fewer than last year!) at a time when they should be peaking and yet we are still recording strong sales. It is hard to quantify but there is no doubt that low inventory does have a negative impact on our Lake Norman’s home sales.

We are seeing some weaker pending sales which will likely lead to a slight dip in sales in the next few months.

Waterfront homes slipped back in to a buyer’s market and we saw fewer luxury sales as well.

Wow, what an amazing report this quarter! I was really shocked to see the extent of the improvement in all of our middle to luxury price ranges and the strength of our sales despite such low inventory. If you compare this chart to the second chart below for the same quarter in 2017 you will see the impressive evolution of our luxury and waterfront housing markets in the past year.

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local here so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers and clients:

Lake Norman’s 2nd Quarter 2018 Home Sales By Price Range

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

Lake Norman’s real estate numbers for June exceeded even my expectations by logging in a total of 246 home sales which beats last June’s record breaking 236 by 4%. And, our June sales were 18.8% higher than last month’s. After some ups and downs at the beginning of the year, the past two months have helped us to record 4 more sales in the first half of this year compared to 2017’s record breaking year which is truly impressive and, quite honestly, unexpected. The million dollar question is can we sustain this level for the second half of 2018? My numbers below will provide some insight into where we are headed for the next few months.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

June’s strong numbers were able to lift our total sales for the past 6 month’s of 2018 above our record-breaking 2017 numbers.

Our inventory of active listings remains alarmingly low (a whopping 136 fewer than last year!) and it has not increased as it should at this time of year yet we are still logging strong sales. It is hard to quantify but there is no doubt that low inventory does have a negative impact on our Lake Norman’s home sales.

We are seeing some weaker pending sales which will likely lead to a dip in sales in the next few months.

Waterfront homes are now squarely in a seller’s market for the first time since the recession.

After the ups and downs of the first 4 months of 2018, our Lake Norman home sales for May indicate that we are in for some consistently strong sales through summer. We matched last May’s home sales which were a record-breaking month. And, at the same time, we posted a 19.2% increase over last month’s home sales. Overall our market has stabilized and our current momentum bodes well for the summer months.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

May’s strong home sales reflect a strengthening of our overall Lake Norman housing market after a roller coaster ride at the beginning of the year.

Our inventory of active listings remains alarmingly low (100 fewer than last year!) and it is not increasing as it should at this time of year yet we are still logging strong sales. It is hard to quantify but there is no doubt that low inventory does have a negative impact on our Lake Norman’s home sales.

We currently have a record-breaking number of “under contract” or “pending” homes which indicates we will see very strong closed sales in the next few months.

Our trade-up and luxury markets posted some good numbers supporting my feeling that these niches are finally recovering from the recession.

We are now in our most active months for our Lake Norman area’s housing sales. After a dip in January, a jump up in February and a drop in March, our April Lake Norman real estate market followed this roller coaster pattern by posting a 5% gainover April 2017’s sales. And, we posted a 19.2% increase over last month’s home sales. So will this pattern continue? Hopefully this month’s market report will provide us some insight as to what lies ahead.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

April’s closed home sales were the highest April since 2005 even beating out last year’s 154. And, they are 19.2% higher than last month as well.

Our inventory of active listings remains alarmingly low and is not increasing as it should at this time of year; currently 11% below last year’s which were also historically low. It is hard to quantify but there is no doubt that low inventory does have a negative impact on Lake Norman’s home sales.

We may continue to experience an up one month and down the next for at least the short term given our lower Pending numbers.

With 7 sales over $2 million we just might be experiencing a true return of our luxury housing market!

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local here so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers and clients:

Lake Norman’s 1st Quarter 2018 Home Sales By Price Range

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

How to read this report:

First choose a price range.

The next column provides the actual number of listings sold in this price range in the 1st quarter of 2018

This is followed by the percentage this price range represents of the total number of listings sold in all of Lake Norman

Next is the number of active listings in this price range today

This is followed by the percentage this price range represents of the total number of active listings

Finally, the last column represent the absorption rate or the number of months of supply for each price range based upon the number of listings divided by the number of sales. (A balanced housing market is 6 months so you can use this to gauge your price range).

After a dip in January our Lake Norman real estate market kind of looks like it is back on track posting 60% more closed sales than February 2017. It is important to note, however, that February 2017 was a very weak month so while 112 closed sales is impressive, it is not quite as significant as it appears. There are also some indications in the numbers below that our short term market may struggle to meet last year’s record-breaking sales.

Here are what I feel to be the biggest takeaways from last month’s Lake Norman real estate sales data:

February closed sales were 60% higher than February 2017 and 13% higher than last month’s.

Our inventory of active listings remains alarmingly low; currently 11% below last year’s which were also historically low. It is hard to quantify but there is no doubt that low inventory does have of a negative impact on home sales.

While we had a strong month, I foresee a rocky next couple of months ahead.

Our trade-up price ranges $600,000 – $999,000) this month were weak again as a group. The only thing consistent about this niche is their constant roller coaster ride of ups and downs.

Waterfront home sales volume is down quite a bit as is our inventory which could present challenges for this spring.

I always get excited to do a Hot Sheet analysis because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? After a sluggish January, it looks like we may have another month of relatively weak closed sales but there are some positive signs for the future. Let’s take a closer look: Continue reading →

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers and clients:

Lake Norman’s 4th Quarter 2017 Home Sales By Price Range

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? After a truly record breaking first 10 months, it looks like our volume of sales has slowed with the season however they are still “hot” compared to prior Novembers. Let’s take a closer look: Continue reading →

October numbers are out! Here are what I feel are the biggest takeaways from last month’s Lake Norman real estate sales numbers:

We had another strong albeit not record-breaking month, logging in 167 closed sales of single family homes. (See green and yellow chart below).

While our numbers are good compared to the same month last year, there is no doubt that our overall housing market has slowed considerably with lower sales than the past 5 months.

At 1695 closed sales, our first 10 months of 2017 exceeded all previous years in Lake Norman’s history, even exceeding 2005’s previous record high by 6.2%.

What a freaky month when we look at price ranges. A whopping 79% of our sales were under $600,000. Then, seemingly out of nowhere, we had 7 sales OVER $2 million!

Our trade-up price ranges from $600,000-$999,999 simply disappeared after last month’s strong showing. So much for stability.

Waterfront homes fell back into a buyer’s market after two pretty strong months. Ups and downs and more ups and downs.

In a nutshell, these numbers mean that our overall strong sales in 2017 have been impressively consistent in beating prior year’s numbers month after month. While there is no guarantee that this will continue long term, 2017 has really been a remarkable year for our Lake Norman real estate market. 2017 will be the single best year for home sales in Lake Norman’s history. That said, we still need to see consistent strength in our waterfront, trade-up and luxury niches for them to regain their pre-recession levels.

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? After a stunning March, strong April & May, record-breaking June, strong July & August and record-breaking September, it looks like this hot trend is cooling off a bit along with our weather. Let’s take a closer look:

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers and clients:

Lake Norman’s 3rd Quarter 2017 Home Sales By Price Range

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

September numbers are out! Here are what I feel are the biggest takeaways from last month’s Lake Norman real estate sales numbers:

We had another awesome month, logging in an all time September record of 194 closed sales of single family homes! (See green and yellow chart below).

At 1525 closed sales, our first 9 months of 2017 exceeded all previous years in Lake Norman’s history, even exceeding 2005’s previous record high by 7%.

My excitement about our luxury market last month has been tempered slightly as we currently has 29 properties over $1 million under contract down from 42 last month.

For the second straight month waterfront homes are in a sellers’ market but there are some worrisome signs that this momentum might not be sustained so it will be important to watch this trend going forward.

Our trade-up price ranges from $600,000-$999,999 represented almost 1/4 of our sales and our current properties under contract again showing signs of stability after many years of struggling to recover.

In a nutshell, these numbers mean that our overall strong sales are no longer erratic but instead impressively consistent in beating prior year’s numbers month after month. While there is no guarantee that this will continue long term, they are still tremendous accomplishments for our Lake Norman real estate market. It looks like 2017 will be the single best year for home sales in Lake Norman’s history. But I am not going to celebrate just yet as I want to watch the waterfront and luxury niches carefully to see if they can finally regain their pre-recession levels.

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? After a stunning March, strong April and May, record-breaking June, strong July and August, it looks like this hot trend might continue through the rest of 2017. Let’s take a closer look:

Finally, at 1329 closed sales, our first 8 months were the highest first 8 months in Lake Norman’s history, exceeding 2005’s by 6.6%.

In a nutshell, these mean that our waterfront, trade-up and luxury markets may finally be recovering after lagging for years, AND our overall strong sales are no longer erratic but instead impressively consistent in beating prior year’s numbers month after month. While there is no guarantee that these will continue long term, they are still tremendous accomplishments for our Lake Norman real estate market.

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? After a stunning March, strong April and May, record-breaking June and strong July, it looks like this hot trend is continuing in August and beyond. Let’s take a closer look:

Lake Norman Real Estate’s August 2017 Two-Week Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (August 8th – 22nd). As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the August chart using my data since 2010.

After June’s highest monthly home sales in Lake Norman’s history, we closed a respectable 180 single family homes in July but it was only the second best July since 2005. No new records set. :-). That said, our July sales were 15% higher than last July’s! 6 out of the first 7 months of this year our sales exceeded 2016’s. We were up against a huge May 2016 of 211 and managed to exceed that by a respectable 7%. Over all, home sales in the first 7 months of 2017 were 19.7% higher than 2016’s. AND, at 1119 closed sales, our first 7 months were the highest first 7 months in Lake Norman’s history! Let’s take a closer look:

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? After a stunning March, strong April, great May and record-breaking June, it looks like this hot trend is continuing in July and beyond. Let’s take a closer look:

Lake Norman Real Estate’s July 2017 Two-Week Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (July 7th – 21st). As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the May chart using my data since 2009.

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 2nd Quarter 2017 Home Sales By Price Range

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

Holy Cow! Lake Norman’s June closed home sales of 225 makes it the highest month in Lake Norman’s history, surpassing the previous high of 216 set back in August 2005! 5 out of the first 6 months of this year our sales exceeded 2016’s. We were up against a huge May 2016 of 211 and managed to exceed that by a respectable 7%. Over all, the first half of 2017 was 19.6% higher than the first half of 2016. AND, at 932 closed sales, our first 6 months were the highest first 6 months in Lake Norman’s history! Let’s take a closer look:

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? After a stunning March, strong April, and stunning May it looks like this trend is continuing in June and beyond. Let’s take a closer look:

My May numbers, both closed sales and new contracts, indicate that our Lake Norman real estate market is still very much in a consistent streak of very strong activity. 197 closed sales is the best month this year and the 5th highest monthly sales in all of Lake Norman since 2005! As you can see below, our 2017 May sales were 31% higher than last May’s. And, our combined total of under contract properties is 7.6% higher than last year’s. Let’s take a closer look:

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? After a stunning March and strong April, it looks like this trend is continuing in May and beyond. Let’s take a closer look:

Lake Norman Real Estate’s May 2017 Two-Week Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (May 7th – 21st). As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the May chart using my data since 2009.

My hot-of-the-press April numbers, both closed sales and new contracts, indicate that our Lake Norman real estate market is in a major streak of very strong housing activity. No more roller coaster rides after February’s unexpected dive. While not matching March’s record breaking sales of 180, the 150 closed sales in April are the the best April since 2005 and 9% higher than last April’s. Plus, check out our new Under Contract and Pending numbers! Let’s take a closer look:

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? After a stunning March, I see mixed messages from the numbers below. Let’s take a closer look:

Lake Norman Real Estate’s April 2016 Two-Week Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (April 8th – 22nd). As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the April chart using my data since 2009.

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful for you to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $900,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 1st Quarter 2017 Home Sales By Price Range

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

Wow, Lake Norman’s real estate market has seriously been taking us on a roller coaster ride in 2017. January home sales were up 30%, February home sales were down 34% and now this! Our March home sales were up a HUGE 73% compared to last March and it was’t just the best March ever by a long shot, but was the 5th highest monthly sales in 12 years! Now we need to get into the details to find out exactly what contributed to this amazing month. Let’s take a closer look:

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with a mid-month pulse of our Lake Norman real estate market. So where are we today? The numbers below actually confirm my thoughts when I wrote my February market report. After a serious dip in February it looks like our housing market is back on track or even better. Let’s take a closer look:

Wow, Lake Norman’s February home sales were stunning, but not in a good way: they were DOWN a whopping 34% compared to last February and the worst February since 2012, The only thing that I can say is that if you have been reading my market reports you know this drop was anticipated but I honestly didn’t think our closed sales would come in quite so low. Not to fret, however, this is not the whole story. What’s next? Let’s take a closer look:

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with the mid-month pulse of our Lake Norman real estate market. So where are we today? The numbers below actually confirm my concerns when I wrote my January market report. There are some positives but our actual closed and pending sales indicate that our closed sales in February will struggle to meet last year’s. Let’s take a closer look:

What a great way to start out 2017. Our Lake Norman real estate sales were 29% higher than last January’s AND, for the first time in 13 years, they even exceeded our record set in 2005! While there are a few dark spots in our numbers, it looks like our momentum from last year has carried over into January. What’s next? Let’s take a closer look:

I had a friend ask me if I would do a sales analysis of Mooresville’s 28115 zip code because this area is not a part of my Lake Norman market reports. I said sure! Just to clarify, area 28115 is almost entirely the Town of Mooresville and is east of I-77. Almost all of the portion of Mooresville on the Lake Norman side of I-77, which has zip code 28117, is considered Mooresville but is actually in Iredell County and does not receive any services like sewer, water etc. from The Town of Mooresville. The Town of Mooresville even has a separate school system. Confusing? Yep!

First, I took a look at their total annual sales comparing 2016 to 2015:

*All date is from the Charlotte Multiple Listing service

So, as you can see, Mooresville’s number of homes sold in 2016 was 14% higher than 2015, the average sales price was 8% higher than 2015 but the days on the market was just about identical.

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with the mid-month pulse of our Lake Norman real estate market. So where are we today? The numbers below actually make me a bit nervous for the first time in months. There are some positives but our actual closed and pending sales indicate that our closed sales in January will struggle to meet last year’s. Let’s take a closer look:

Lake Norman Real Estate’s January 2016 Two-Week Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (January 7th – 21st. As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the January chart using my data since 2009.

If you are a home buyer or seller in the Lake Norman area it really only matters what is happening in YOUR price-range. Yes, it is important to know about the global economy, the national economy and the Charlotte area economy and real estate market but real estate is hyper-local so it is most meaningful to learn about the Lake Norman real estate market and within that, your specific niche. For instance, if you are looking to buy or sell in the $700,000 price range, you are going to have an entirely different experience than someone in the $800,000’s. This is the reason why I create a price-range analysis every quarter for my readers:

Lake Norman’s 4th Quarter 2016 Home Sales By Price Range

*Compiled from the Carolina Multiple Listing Service’s data, this chart enables you to focus on your specific price range(s) rather than use the broad-brush approach thus allowing you to size up your competition and better position yourself.

Waterfront homes are a part of what makes Lake Norman so popular. What an amazing lifestyle they offer! Yet, during most of 2016 I once again noted, well complained, in my monthly Lake Norman market reports about our mercurial sales in luxury homes, the lack of inventory of good waterfront homes in the under $1 million price ranges and the historically low number of sales of waterfront homes as a percentage of our overall Lake Norman real estate market. So, what is up with waterfront homes? Now that 2016 is in the books I have put our 2016 waterfront home sales numbers in context with the past 11 years. The results are really fascinating if you like numbers! Let’s take a closer look:

Thanks to another strong month, our Lake Norman real estate market ended 2016 with a healthy 6.8% increase in single family home sales versus 2015 and the highest number of annual home sales since 2005! While our December sales only beat out last December’s by single digits, we still ended with 6 of the 7 final months of 2016 beating 2015 numbers handily. The cherry on top again this month is that the number of new contracts once again are higher than the past two years indicating that we should begin 2017 in the black. Let’s take a closer look:

* All data is from the Carolina Multiple Listing Service.

Some significant additional statistics for you:

“Waterfront homes continue to under perform despite Lake Norman’s overall high sales numbers.Waterfront properties represented only 26.6% of our December closed sales,. At the same time they currently comprise 40.7% of our active listings. The average sales price of a waterfront home in December was $886,643 which is slightly higher than the past 2 months but well below August’s $1,040,070, July’s $912,446. Our overall luxury housing market remains soft as well which is linked closely to our waterfront market. The average price per square foot of our waterfront homes came in at $226.00 down from last month’s impressive $252.94 and October’s $237.98. This number is best averaged over a longer period of months because it only takes one or two really expensive sales ($2- 3 million+) to skew any given month. It took on average whopping 162 days for a waterfront home to sell (verses 108 last month)and they sold for only 93% of the listing price compared to 96% last month. We currently have only 49 waterfront homes under contract comprising 26.7% of our total homes under contract. Our waterfront homes’ months of inventory actually dropped down to 8.8 compared to 11 last month. Waterfront home sales are still in a buyer’s market. These numbers certainly indicate that now would be a good time to by a waterfront home. That said, this varies quite a bit by price range, location and quality of water. Don’t be complacent because when really nice waterfront properties hit the MLS as they are actually selling quickly.

29 new construction homes closed in December through our MLS but this does not reflect an accurate picture of new home sales since so many are custom or are purchased directly from the builders and therefore never enter the MLS. (In fact, this segment of the market may be skewing our Lake Norman home sales numbers quite a bit.) The average listing price vs sales price of new construction single family homes was 99%. There is still very little if any wiggle room in new home prices. (But ask for all those great upgrades!) We currently have 75 new construction homes under contract in the MLS. The average sales price in December logged in at $391,829. The months of supply of active listings based on December sales stands at 7.1 so overall new construction homes are technically in a buyer’s market but again this varies greatly by location and price range.

Distressed sales” (Foreclosures (REO’S), defaults, Short Sales) represented 1.5% of Lake Norman’s total home sales. With just 2 distressed closed sale for the entire month it is clear they didn’t play a role in December at all. Distressed active listings currently comprise 2.1% of Lake Norman’s current total inventory of single family homes for sales. Distressed sales continue to play an insignificant role in our Lake Norman real estate market.

50.0% of Lake Norman’s December single family home sales were under $400,000 which is about equal to last month’s.

68.8% of Lake Norman home sales in December were under $500,000, which is a bit higher than last month’s.

Our “Under Contract Show” AND “Under Contract No show”/Pending sales combined total of 183 is once again higher than that past two years at this same date but not as much of a difference than prior months this fall. We have 4% more properties under contract than at the same time in 2015 and 18.8% more than January 6, 2014. We are on pace to have a relatively good start to 2017.

How would you like to get a “State of the market” report for every community in Lake Norman with just two clicks? It may sound impossible, but here is a link to my Home Search section where all you have to do in choose the community or area and you will get charts for the past 3 years including 2016!

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with the mid-month pulse of our Lake Norman real estate market. So where are we today? The numbers below definitely indicate that our unusually heated pace of sales has slowed down to about the same as last year’s in the past two weeks. That said, we are well on our way to logging another strong month of sales to end the year on a high note. Let’s take a closer look:

Lake Norman Real Estate’s December 2016 Two-Week Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (December 7th – 21st. As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the December chart using my data since 2009.

Wow, a 33% increase in Lake Norman’s home sales in November, now that is impressive! In 5 of the past 6 months we have beaten the same months in 2015 and 4 of the 5 by double digits. Not only were November’s sales 33% higher than last November but they also were the highest November sales since 2005. The cherry on top is the number of new contracts where are also significantly higher than last year indicating that this momentum is going to continue throughout the next several months at least. Mercurial has been emphatically replaced by momentum as my favorite adjective to describe our current Lake Norman real estate market. Let’s take a closer look:

Want the very latest insight into our Lake Norman real estate market? So do I which is why, every month, I do a snapshot analysis of the middle two weeks of the month to get a sense of where we are at this very moment…an almost live insight into the heartbeat of the Lake Norman housing market.

I always get excited to do this Hot Sheet analysis each month because it provides me with the mid-month pulse of our Lake Norman real estate market. So where are we today? The numbers below seem to indicate that while the pace is slowing just a bit which is expected at this time of year, it looks like we are well on our way to logging another strong month of sales. Let’s take a closer look:

Lake Norman Real Estate’s November 2016 Two-Week Hot Sheet

* The above chart is a summary of today’s “Hot Sheet” from the Charlotte Multiple Listing Service for single family homes in all of Lake Norman. These numbers represent a real time snapshot of the past two week’s activity. (November 7th – 21st. As always, I have included the past 6 months so that you can put these numbers in perspective. Below is the November chart using my data since 2009.